For your accounting needs, our system provides a comprehensive ledger report that records every transaction.

To access the ledger report, go to Admin Panel > Reports > Ledger Report. Click "View Report", where you’ll find various filters to help you narrow down your criteria.

Since this report is export-only, you’ll need to download it as a CSV file once you’ve set your filters. This will allow you to view the report in a format that’s easy to analyze and share.

Before diving into the ledger report, it’s helpful to understand the charge types you’ll encounter, as they reflect different transaction methods:

• Online Payments: For venues using our online payment processor, Adyen will appear for online transactions.
• Other Charge Types: You may also see additional charge types, each corresponding to various in-person or alternative payment methods, as illustrated in the image above.

This background on charge types will make it easier to interpret the data within the ledger report, providing a clear view of how payments have been processed.

Now in the picture above, there is another really important thing Balance>Account Code

What is a Venue Balance Account:

Current principle: We pay out funds from the Customer’s Balance account to their Bank account (some payments take longer to arrive in the venue’s Balance account than others). Payouts to the customer’s bank account is all money received, minus any fees due in invoices.

We pay out as we get the money, rather than waiting to have all the money for a certain day and then payout the day. For reconciliation it is better to use the Ledger report.

The venue should use their YGB Balance account for their accounting/reconciling and not try to reconcile their bank account.

The money transferred from the venue’s YGB Balance account to their Bank account is just a transfer of money within their business.

N.B However, based on customer requests, we will transition to grouping payouts for certain days to facilitate reconciliation (although it means we may hold payouts a couple of days).

Let's have a sneak peek into a a Ledger Report

In the ledger report, you'll see columns to help categorize and calculate various transactions accurately:

1. Credit and Debit Columns: Essential for tracking incoming and outgoing payments. The “Credit” column records payments received, while “Debit” shows expenses or withdrawals.
2. Classes Column: Categorizes different financial aspects of the business:
   • Assets: Owned resources that benefit the business, like cash, equipment, or accounts receivable.
   • Liabilities: Obligations to others, including loans or payables.
   • Equity: Owner’s claim on assets after liabilities; includes stock, retained earnings, etc.
   • Revenue: Income from core operations, such as sales.
   • Expenses: Costs incurred to earn revenue, like rent or salaries.
3. Memo Column: Provides specifics on each transaction—bookings, fees, payouts, invoices—allowing for a detailed breakdown of each purchase.
4. Source Types: Identifies the type of charge or line item, including discounts applied.
5. Taxes Column: Shows applicable taxes on each transaction.

Key Accounting Concepts to Maintain Accuracy:

• Double-Entry Accounting: Each transaction affects at least two accounts, with debits and credits balancing out.
• Normal Balances: Specific account types usually increase on one side (e.g., assets and expenses have debit balances; liabilities, equity, and revenue have credit balances).
• Equation Balance: The accounting equation (Assets = Liabilities + Equity) keeps your books balanced when debits and credits are correctly applied.

These details help ensure transactions are accurately categorized and accounted for.

For a visual representation, here’s an example table that captures these transactions in context:

Breakdown of Accounting Entries:

Cell A3: Booking - Credit in the Revenue Account

• Meaning: This entry signifies that the venue has recorded a sale, increasing its revenue.

Cell A4: YGB Reservation Fee - Credit in the Liability Account

• Meaning: This is recorded as a liability because the venue owes this amount to a third party (YGB).

Cell B5: Accounts Receivable - Debit in the Assets Account

• Meaning: The venue has an outstanding booking for which they are owed money from the customer, recorded as an asset.

Cell B6: Adyen Payment - Debit in the Asset Account

• Meaning: This debit entry reflects the receipt of cash from Adyen, thus increasing the venue's assets.

Cell A7: Accounts Receivable - Credit in the Assets Account

• Meaning: The venue has fulfilled the booking and has now received the money owed, effectively converting the receivable to actual revenue.

This layout ensures clear tracking of revenue, liabilities, and the flow of assets as the booking is processed and payment is received.